atention warrant guru,s hdrxoa, page-15

re: atention warrant guru,s hdrxoa - debono Hi debono,

You are right of course, they cannot change the strike while there is open interest. However the fact they did change the strike indicates there must not have been any warrants outstanding at that time. Any/all buyers must have sold back.

Insto's can and often do change the strike if there is no-one holding and the warrant has gone so far otm or itm that it no longer appeals to traders. Saves the expense and paperwork of issuing a new series I guess.